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LKQ Corp. (NASDAQ:LKQ) released that it signed a contract to purchase Coast Distribution Systems, a distributor of replacement parts, supplies as well as accessories for recreational vehicles, for $5.50 a share in cash or around $29M. The combination would result in distribution as well as logistics synergies as per the contract, a subsidiary of LKQ will commence a tender offer to acquire all outstanding shares of Coast’s common stock. The tender offer will begin in 10 business days and will remain open for at least 20 business days after launch. Coast’s Board of Directors unanimously recommended the offer. The acquisition is currently expected to close in the third quarter of 2015. Robert W. Baird & Co. Incorporated and Duff & Phelps, LLC are acting as financial advisors to The Coast Distribution System. LKQ Corp. (NASDAQ:LKQ) stock hit highest price at $30.74, beginning with a price of $30.74 and reported a decrease of -0.80% to close at $30.35 with a day range of $30.20-$30.74.
Cree, Inc. (NASDAQ:CREE) released that purchase of Arkansas Power Electronics International, or APEI, a worldwide leader in power modules and power electronics applications. Combining two extremely complementary innovators, the takeover enables Cree’s Power and RF business to expand its leadership position and assist to accelerate the market for high-performance, best-in-class SiC power modules. Cree noted that this acquisition strengthens its market-leading position for SiC power electronics, infusing the Power and RF business with additional intellectual property and applications expertise at the systems level from APEI. Cree, Inc. (NASDAQ:CREE) stock has highest price of $25.41 in last session, beginning with a price of $25.20 and reported a loss of -2.62% to close at $24.87 with a day range of $25.13-$25.41. The stock is going forward its 52-week low with 5.25% and moving down from its 52 week high price with -51.30%.
Nobilis Health Corp. (NYSEMKT:HLTH) released on Thursday that it hired Kenny Klein to serve as the firm’s CFO. Andy Chen, Nobilis’ outgoing CFO, will take for granted revenue cycle and development responsibilities with the company as its Executive Vice President of Finance. Klein has served as Nobilis’ Chief Accounting Officer since April 2015. Prior to joining Nobilis, Klein served for over five years as Senior Vice President, Chief Financial Officer and Treasurer of the Menninger Clinic. He has over 26 years of experience in financial accounting & reporting, analysis, management, auditing, treasury and human resources, focusing primarily in the health care, construction and financial services industries. Shares of Nobilis Health Corp. (NYSEMKT:HLTH) traded at $7.05 by moving down -0.70% with price volatility of 4.74% for a week and 5.00% for a month.